The Role of Transparency and Accountability for Economic Development in Resource-rich Countries

The Role of Transparency and Accountability for Economic Development in Resource-rich Countries

International Monetary Fund | January 27, 2005
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"Address by Agustín Carstens, Deputy Managing Director of the International Monetary Fund, at the Regional Workshop on Transparency and Accountability in Resource Management in CEMAC Countries held in Malabo, Equatorial Guinea, January 27, 2005. Mr. Carstens discusses transparency, accountability, and the EITI.
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"On behalf of the IMF, I would like to welcome you to this workshop. Let me first thank President Mbasogo and the authorities of Equatorial Guinea for hosting this event. I would also like to thank all participants of this workshop for your interest in the subjects of transparency and accountability. Your presence here is yet another sign of the continuing focus being paid to good governance in the region.

The workshop today features as themes the twin concepts of "transparency" and "accountability." These concepts are important pillars of democratic governance in modern societies. However, in thinking about what I should say today, it occurred to me that, in my native Spanish language, there is no word that single-handedly captures the meaning of the Anglo word "accountability."..."

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